Legal & Regulatory News

European Banking Federation and UN Environment Programme Finance Initiative launch report on the application of the EU Taxonomy to bank lending

On 15 February 2022, the European Banking Federation (the EBF) and the UN Environment Programme Finance Initiative (UNEP FI) published a report, 'Practical approaches to applying the EU Taxonomy to bank lending' (the Report) which is aimed at banks looking to use the EU Taxonomy.

The Report aims to increase the understanding of the EU Taxonomy, its requirements and the application of disclosure requirements, both mandatory and voluntary. The Report explores several aspects of the EU Taxonomy's application to bank lending, including:

• the regulatory application of the EU Taxonomy;
• how the EU Taxonomy may be used to gather EU Taxonomy compatible information for bank clients who do not yet have an obligation to disclose under the Article 8 of the Taxonomy Regulation; and
• how the EU Taxonomy may be used by banks that wish to engage with clients whose economic activities are eligible for analysis under the EU Taxonomy, but are not yet aligned with the listed technical screening criteria.

Click here to access the Report.

Click here to access the EBF press release.